TEL AVIV, July 31 Teva Pharmaceutical Industries
reported on Thursday higher quarterly earnings that
beat analysts' estimates by one cent due in part to the launch
of several generic products in the United States.
Teva, the world's largest generic drugmaker and
Israel's biggest company, earned $1.23 per share excluding
one-time items in the second quarter, compared with $1.20 a year
earlier. Revenue rose 2 percent to $5.05 billion.
Teva was forecast to earn $1.22 a share excluding items on
revenue of $5.09 billion, according to Thomson Reuters I/B/E/S.
The company raised its full year 2014 earnings forecast to
$4.50-$4.80 a share if rivals launch generic versions of
multiple sclerosis drug Copaxone and $4.90-$5.10 without
competition. Previously, it had predicted $4.20-$4.50 with
competition and $4.80-$5.10 without.
Global sales of its best-selling MS drug Copaxone, which
accounts for about 20 percent of sales and 50 percent of profit,
fell 12 percent to $900 million. The injectable drug faces
competition from oral treatments as well as cheaper generics in
the coming years.
Teva declared a quarterly dividend of 1.21 shekels (35.3
cents) a share, unchanged from the first quarter.
(Reporting by Tova Cohen)